Business Travel Expenses

Ivey Lumber will reimburse TM’s for reasonable business travel expenses incurred while on assignments away from the normal work location. All business travel must be approved in advance by the General Manager.

Team Members whose travel plans have been approved should make all travel arrangements through Ivey’s travel department.

When approved, the actual costs of travel, meals, lodging, and other expenses directly related to accomplishing business travel objectives will be reimbursed by Ivey’s. Employees are expected to limit expenses to reasonable amounts.

Team Members who are involved in an accident while traveling on business must promptly report the incident to their immediate Supervisor. Vehicles owned, leased, or rented by Ivey’s may not be used for personal use without prior approval.

Cash advances to cover reasonable anticipated expenses may be made to TM’s, after travel has been approved. TM’s should submit a written request to their Supervisor when travel advances are needed.

With prior approval, TM’s on business travel may be accompanied by a family member or friend, when the presence of a companion will not interfere with successful completion of business objectives. Generally, TM’s are also permitted to combine personal travel with business travel, as long as time away from work is approved. Additional expenses arising from such non business travel are the responsibility of the TM.

When travel is completed, TM’s should submit completed travel expense reports within 7 days. Reports should be accompanied by receipts for all individual expenses.

Team Members should contact their Supervisor for guidance and assistance on procedures related to travel arrangements, travel advances, expense reports, reimbursement for specific expenses, or any other business travel issues.

Abuse of this business travel expenses policy, including falsifying expense reports to reflect costs not incurred by the Team Member, can be grounds for disciplinary action, up to and including termination of employment.

Policy No. 512 Issued 1/1/2008 Applicable 8/5/2009